Aban Offshore bags over Rs 323 cr contract

NEW DELHI: Aban Offshore on Thursday said it has received a Rs 323.74 crore contract from a leading exploration and production firm in South Asia for deployment of a jack up rig.

Aban Offshore received the letter of award from the South Asian firm for the new built jack up rig, "Deep Driller 4", for a period of 12 months, the offshore drilling services provider informed the BSE.

The estimated revenues for the said period of deployment would be around $80 million, including mobilisation and demobilisation. The rig is likely to commence operations by the fourth quarter of this year, it said.

Shares of the company were trading at Rs 2,953, down 0.29 per cent on the BSE in afternoon trade.